斯麦特公司发展战略研究

上海交通大学硕士学位论文斯麦特公司发展战略研究姓名：林忠申请学位级别：硕士专业：工商管理指导教师：陈德智20050319EMBA32005318EMBA420053182005318EMBA600170500300500TMTMSOMSOTMTMSODSMSOVisionAbilityExperienceTrackRecordDSEMBA7STBEMBA8THEDEVELOPMENTSTRATEGYOFSMTLTDABSTRACTInrecentyears,ChinesedomestictraditionaltelevisionandemergingInternetmediamarketassumedhigh-speeddevelopment,initiatedgreatdemandforhighqualitymultimediacontent.However,presentlythedomesticfamilyentertainmentmarketstillowesdevelopedandmainlandtelevisionstationfilmandtelevisionprogramself-madeabilityisuniversallyweak.Asaresult,thegapreachesashighasmillionsofhoursofcontenteveryyear.Moreover,MainlandChinaisdeeplyinfluencedbythetraditionalideologyandhasstrictregulationsonthebroadcastingofoverseasprograminchina,resultinggreatdeficiencyofbroadbandmultimediacontent.Amarketwillsuchabiggapbetweensupplyanddemandhaveunlimitedgrowthpotential.AftertheWTOentryofChina,thegovernmentpledgedtograduallyopenthemarketoftelecommunicationmediaindustry,theforbiddenareaformallymonopolizedbythestate.Withtheimprovementoflivingstandardandculturalideas,anewbornmarketforfamilyentertainmentprospered.BothInternetanddigitalTVareinplay.Withthecompletionofnationalnetworkinfrastructure,thedemandforbroadbandmultimediacontentbythegeneralpublicisincreasingsteadily.Thisindicatesthestartofdomesticbroadbandmultimediaserviceindustrywithapromisingfuture.Ontheotherhand,theChinesedomesticwiredtelevisionsystemcontainshugedevelopmentpotential.AtpresentthecableTVnetworkpropertyanditsuservaluehadbeenseriouslyunderestimated.ThoughthepurchasepriceofeachcableclientinBeijing,ShanghaiandGuangzhousurgedfrom170yuanin2000to500yuannow,itisverydifferentfromtheactualvalueoverseasof300to500USdollars.Withfutureserviceexpansionandtheintroductionofbroadbandmultimediavalue-addedservice,itsfuturepotentialwillbeevengreater.Thereforebasedonlong-termview,investingandgraspingthemostvaluableclientsresourcesinthetelecommunicationmultimediaindustrychainwillinevitablyobtaintheuniquecorecompetitiveadvantageandcapitalappreciationpotential,thusseizethemostadvantageouspoint.Withthedevelopmentofinternettechnology,thetelecommunication,theinternetandthecablefusedatacceleratingspeed,causingthegreatdevelopmentofmultimedia:thevoice,thevision,thewritingandtheimage.Asaresult,thenewindustryoftelecommunicationmultimediatechnology(TMT)prosperedinthewholeworld.Multimediasystemoperators(MSO),becauseoftheirstretchesacrossthetraditional(television)andemerging(network)mediafields,canintegrateverticallytheinfrastructureandthecontentproviders,thusfullyrealizetheindustrialvaluechaineffect.Byachievingresourcessharingeffect,MSOshavetheuniquecompetitiveadvantageandhopefullywillgraduallyoccupythemainstreamstatusinthetelecommunicationmediamarket.EMBA9Undersuchbackground,SMTCorporationpositionsitselfasabroadbandmultimediasystemoperator(MSO)tocatertotheglobaltelecommunicationmultimediatechnology(TMT)development.Itsmanagementidea,developmentstrategyandthebusinessmodelallhavebeinginthelead.Beingaspecializedbroadbandcontentintegrationoperator,itcanestablishastrategyalliancewiththemostfamouscontentproviders,networkoperatorsandequipmentsuppliersinmainland,HongkongandTaiwan.ThroughunifyingtheeliteteamandresourcesinGreaterChina,ithasestablishedunequivocalcompetitiveadvantagesinthebusinessofbroadbandmultimediawithunlimitedgrowthpotential.ThecompanyhasanintegralstrongmanagementteamwiththecorememberscomingfromthelargestMSOinAsia,theDSgroup.Ithasthefirst-classstandardinthisbroadbandmultimediafieldandaccumulatedmanyyearsofsuccessfulMSOoperationexperienceinTaiwan.NowitcanshiftthisvaluableexperiencetoMainlandChina.ChairmanMr.Wanghasmanyyearsofsuccessfulrecordinstart-upsandheisfamousforhisvision,ability,experienceandtrackrecordintheindustry.Thatiswhyheisconfidenttobringnewsuccessforthecompany.Thecompany'sstrategyistoavoidburningthemoneytobecomestrongandbig;onthecontrary,itwilladoptthebusinessstrategyof“smallandnice”,thusunifyingtheshort-termprofittargetwithlong-termdevelopment.WiththebackdropoftheDSgroupandabundantstrengthandhighstatusintheindustry,itcanestablishstrategicallianceofbroadbandmultimediacompanies.Withthecombinationofcontent,broadbandnetworksandequipmentofSTBsuppliersinmainland,HongkongandTaiwan,thecompanycanadopttheincome-sharingprogramtodiversifytherisk.Asaresult,withthelowestcostofcapital,thecompanycanfirstdevelopthebest-rewardingprogramsandbroadbandindustryaimingatthehigh-endclients,mostlyTaiwanesebusinessmenatfirst.Withthisstrategy,thecompanycanmakeprofitratherquickly.Lateron,withlarge-scalemarketingintheeastareaofchina,thecompanycanacquiremajorbroadbandclientstorunintoasustainabledevelopmentpathwiththepracticalandfeasiblebusinessmodel.KEYWORDS:cableTV,telecommunicationmultimediatechnology,thefusionofthreenets,broad-bandmultimediasystemoperators,enterprisestrategyEMBA1111TMTMSO200413915025960904,1609,4004,000WTOTMTDSDSDSDSMSO12WTO1EMBA122CableXDSLLMDS3ISPIDCICP13“”12DSEMBA13212112001WTOWTO25%50%25%49%12004139093.73,0001,300980301,0002200411,30050252030070HFC2,0006530350450550750860LANMANWAN1EMBA